On August 24, 2018, the Receiver, the Official Stanford Investors Committee (“OSIC”) and certain individual Investor Plaintiffs filed a Motion seeking Court approval of a settlement entered into with Proskauer Rose, LLP (“Proskauer”). Pursuant to the terms of the settlement, the Receivership Estate will receive $63 million. On September 11, 2018, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Proskauer Settlement and establishing a schedule for the submission of objections.

The Court has set a hearing on the Motion to Approve the Proskauer Settlement at 10:00 a.m. on Friday, December 14, 2018. Any party wishing to file an objection to the Proskauer Settlement must do so no later than Friday, November 23, 2018.

You may access the materials pertaining to the Proskauer Settlement by clicking Here:

An appeal was yesterday struck down for Leroy King, the embattled former administrator of the Financial Services Regulatory Commission (FSRC), who is seeking to stop his extradition to the United States to face 11 fraud related charges stemming from the US$7 billion Ponzi scheme by Allen Stanford.

The Eastern Caribbean Supreme Court handed down the decision during a sitting in St. Kitts. The ruling came several months after Antigua and Barbuda’s Director of Public Prosecutions, Anthony Armstrong, and King, through his lawyers, argued against and for the appeal respectively.

But, the legal journey which started several years ago, can be further prolonged if King appeals again, this time to the Privy Council. Efforts to reach his lawyer Dr. David Dorsett for comment last evening were unsuccessful.

So far though, King’s lawyers have not made any application for a stay of execution to stop the authorities in Antigua and Barbuda from turning him over to U.S. officials to finally face the court in that country which issued a warrant for him since 2009.